It really depends. 2% is good but there are better options to consider. For reference (risk free investment), the singapore saving bond give an average of 2.05% for 3years, and 2.48% for 10years holding period. If you would like to consider retirement planning, topping up CPF special account gives guaranteed 4% return plus additional 1% up to a certain limit. In additional u will get tax relief for the topped up amount. Eg. if your taxable income is $40k, every dollar above is taxed at 7%. If your taxable income is $80, is taxed at 11.5%. Thus if u topped up $1000, u get $1000 tax relief, saving 7% or 11.5% of $1000 which would have paid as tax. On top of earning 4% interest on your $1000.
In short, if u do not intend to utilise the money u put into CDA within 3years, it might be better to repurpose your cash.
It really depends. 2% is good but there are better options to consider. For reference (risk free investment), the singapore saving bond give an average of 2.05% for 3years, and 2.48% for 10years holding period. If you would like to consider retirement planning, topping up CPF special account gives guaranteed 4% return plus additional 1% up to a certain limit. In additional u will get tax relief for the topped up amount. Eg. if your taxable income is $40k, every dollar above is taxed at 7%. If your taxable income is $80, is taxed at 11.5%. Thus if u topped up $1000, u get $1000 tax relief, saving 7% or 11.5% of $1000 which would have paid as tax. On top of earning 4% interest on your $1000.
In short, if u do not intend to utilise the money u put into CDA within 3years, it might be better to repurpose your cash.